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Bombay High Court Quashes Consumer Commission Order and Bailable Warrants Against NBFC in Moratorium Period — Insolvency and Bankruptcy Code Moratorium Bars Continuation of Proceedings Under Consumer Protection Act, 2019.

The petitioner, SREI Equipment Finance Limited, a non-banking financial corporation, challenged an order dated 20.07.2022 passed by the District Consu...

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Supreme Court Allows Appeal of Dissenting Financial Creditor in Insolvency Case on Interpretation of Amended Section 30(2)(b)(ii) - Court Holds Amendments Apply to Pending Proceedings and Entitle Creditor to Liquidation Value of Security Interest Under Insolvency and Bankruptcy Code, 2016.

The dispute arose from appeals concerning the interpretation of amended Section 30(2)(b)(ii) of the Insolvency and Bankruptcy Code, 2016. The appellan...

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High Court of Karnataka Quashes SARFAESI Proceedings Against Company Under CIRP — Resolution Professional Entitled to Possession of Assets. Held that Section 14 of IBC overrides SARFAESI Act and other laws, and the moratorium under IBC bars any proceedings against the corporate debtor's assets.

The petitioner, M/s. Dreams Infra India Pvt. Ltd., represented by its Resolution Professional Sri Ashok Kriplani appointed by the National Company Law...

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Supreme Court Allows Trade Union to File as Operational Creditor Under IBC — Workers' Dues Constitute Operational Debt. Trade Union, Being a Body Corporate Under Trade Unions Act, Can Represent Workmen Collectively for Insolvency Proceedings.

The appeal arose from a long-standing dispute concerning a jute mill that had been closed permanently on 07.03.2014. The appellant, JK Jute Mill Mazdo...

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NCLAT Allows Appeal Against NCLT Order Dismissing Section 7 Application as Abated Due to Death of Corporate Debtor's Director. The Tribunal held that the death of a director does not abate proceedings under the Insolvency and Bankruptcy Code, 2016, and the Resolution Professional can continue the process.

The appeal arises from an order of the National Company Law Tribunal (NCLT), Bengaluru Bench, dated 30.12.2019, which dismissed IA No.47/2019 in CP(IB...